Panacea Global (HOML) 10-Q 13 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013
Document and Entity Information:	'
Entity Registrant Name	'PANACEA GLOBAL, INC.
Document Type	'10-Q
Document Period End Date	30-Sep-13
Amendment Flag	'false
Entity Central Index Key	'0001024048
Current Fiscal Year End Date	'--12-31
Entity Common Stock, Shares Outstanding	99,497,586
Entity Filer Category	'Smaller Reporting Company
Entity Current Reporting Status	'Yes
Entity Voluntary Filers	'No
Entity Well-known Seasoned Issuer	'No
Document Fiscal Year Focus	'2013
Document Fiscal Period Focus	'Q3

Panacea_Global_Inc_Balance_She

Panacea Global, Inc. - Balance Sheets (USD $)	Sep. 30, 2013		Dec. 31, 2012
Current Assets:	'		'
Cash	$175,343		$109,151
Other Assets, current	66,002		73,226
TOTAL CURRENT ASSETS	241,345		182,377
Investment, current	918,109	[1]	912,576	[1]
Property and equipment, net	89,420	[2]	89,384	[2]
Intangible asset, net	50,000,000	[3]	50,000,000	[3]
Total Non-Current Assets	51,007,529		51,001,960
Total Assets	51,248,874		51,184,337
LIABILITIES	'		'
Accounts payable and accrued liabilities, current	210,583		293,926
Due to related parties, current	741,167	[4]	943,019	[4]
Deferred revenue, current	1,000,000	[1]	1,000,000	[1]
License fee payable, current	1,070,871	[1]	1,562,500	[1]
TOTAL LIABILITIES	3,022,621		3,799,445
Stockholders' Equity	'		'
Preferred Stock	0	[5]	0	[5]
Capital Stock	99,498	[6]	95,364	[6]
Additional paid-in capital	52,094,375		50,389,417
Deficit accumulated during the development stage	-4,034,652		-3,189,000
Accumulated other comprehensive income (loss)	67,032		89,111
Total Stockholders' Equity	48,226,253		47,384,892
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$51,248,874		$51,184,337
[1]	See Note 5
[2]	See Note 9
[3]	See Note 6
[4]	See Note 11
[5]	$0.001 par value; 100,000 shares authorized, none issued; See Note 7
[6]	$0.001 par value; 300,000,000 shares authorized; 99,497,586 issued and outstanding (December 31, 2012- 95,363,586); See Note 7

Panacea_Global_Inc_Statements_

Panacea Global, Inc. - Statements of Operations (USD $)	3 Months Ended				9 Months Ended				44 Months Ended
	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013
Income Statement	'		'		'		'		'
Revenue	'		'		'		'		'
EXPENSES	'		'		'		'		'
Professional fees	72,353		36,979		175,373		223,001		703,162
Cost of reorganization	'		'		'		'		39,300
Filing Fees	2,090		4,498		6,430		12,712		32,851
Office and General	175,913		154,218		480,958		414,970		1,406,883
Depreciation, expense	5,235		3,870		14,584		11,276		33,118
Stock-based compensation	'		'		'		'		1,124,367
Salaries and benefits	85,707		85,841		173,840		98,493		566,479
TOTAL EXPENSES	341,298		285,406		851,185		760,452		3,906,160
Equity income/(loss) pickup	-113	[1]	-2,522	[1]	5,533	[1]	-1,408	[1]	-81,891	[1]
Net loss before tax	-341,411		-287,928		-845,652		-761,860		-3,988,051
Tax expense	'		'		'		-46,601		-46,601
Net Loss	-341,411		-287,928		-845,652		-808,461		-4,034,652
Foreign currency adjustment	-42,732		-20,328		-22,079		-18,908		67,032
Comprehensive Loss	($384,143)		($308,256)		($867,731)		($827,369)		($3,967,620)
Net loss per share-basic and diluted	$0		$0		($0.01)		($0.01)		($0.04)
Weighted number of shares outstanding- basic and diluted	98,133,872		94,674,769		97,551,962		94,426,641		97,551,962
[1]	See Note 5

Panacea_Global_Inc_Statements_1

Panacea Global, Inc. - Statements of Cash Flows (USD $)	9 Months Ended				44 Months Ended
	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013
Cash flows from Operating Activities	'		'		'
Net Loss	($845,652)		($808,461)		($4,034,652)
Adjustments to reconcile net loss to net cash used in operating activities:	'		'		'
(Income)/Loss pickup on joint venture	-5,533	[1]	-1,408	[1]	81,891	[1]
Depreciation	14,584		11,276		33,118
Stock based compensation	'		'		1,124,367
Stock issued for services	'		'		39,300
Total Income (Loss)	-836,601		-795,777		-2,755,976
Change in assets and liabilities:	'		'		'
Other Assets	7,224		-12,631		-66,002
Accounts payable and accrued liabilities, increase decrease	-83,343		143,563		210,583
Deferred revenue, increase decrease	'		'		1,000,000
License fee payable, increase decrease	-491,629		-200,000		-1,429,129
Net cash used in operating activities	-1,404,349		-864,845		-3,040,524
Cash Flows from Investing Activities	'		'		'
Undistributed loss on joint venture	0	[1]	0	[1]	-1,000,000	[1]
Purchases of property and equipment	-14,620		-56,194		-122,538
Net cash used in investing activities	-14,620		-56,194		-1,122,538
Cash Flows From Financing Activities	'		'		'
Issuance of common stock	1,709,092		471,114		3,530,206
Due to related parties	-201,852		314,751		741,167
Net cash provided by financing activities	1,507,240		785,865		4,271,373
Effect of exchange rate on cash	-22,079		-18,908		67,032
Net change in cash	66,192		-154,082		175,343
Cash, Beginning of Period	109,151		328,662		'
Cash, End of Period	175,343		175,580		175,343
Supplemental Disclosures of Cash Flow Information:	'		'		'
Interest paid	'		'		'
Taxes paid	'		$46,601		$46,601
[1]	See Note 5

Nature_of_Operations_and_Organ

Nature of Operations and Organization	9 Months Ended
	Sep. 30, 2013
Notes	'
Nature of Operations and Organization	'
	1.        NATURE OF OPERATIONS AND ORGANIZATION
	Effective June 2, 2011, MoneyLogix Group, Inc. registered a change of name with the State of Nevada to Panacea
	Global, Inc. Effective June 15, 2011, the trading symbol for the Company on the OTC Bulletin Board changed from "MLXG" to “PANG”.
	The Company is a development stage company that has currently acquired the global rights except for the United States of America for early detection cancer tests.

Basis_of_Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Notes	'
Basis of Presentation	'
	2.        BASIS OF PRESENTATION
	The Company has not earned any revenues from limited principal operations and accordingly, the Company's activities have been accounted for as those of a "Development Stage Enterprise" as set forth in Accounting Standard Codification (“ASC”) 915 Accounting and Reporting by Development Stage Enterprises.  Among the disclosures required by ASC 915 are that the Company's consolidated financial statements be identified as those of a development stage company, and that the consolidated statements of comprehensive loss, stockholders' deficit and cash flows disclose activity since the date of the Company's inception.

Going_Concern

Going Concern	9 Months Ended
	Sep. 30, 2013
Notes	'
Going Concern	'
	3.        GOING CONCERN
	These interim condensed consolidated financial statements have been prepared assuming the Company will continue on a going-concern basis. The Company incurred losses since inception and the ability of the Company to continue as a going-concern depends upon its ability to raise additional finance to fund its operations and develop profitable operations. Accumulated net losses from inception to September 30, 2013 totaled $4,034,652.  In order for the Company to meet its liabilities as they come due and to continue its operations, the Company is solely dependent upon its ability to generate such financing. There is no assurance that the Company will be able to obtain such financing. These conditions create material uncertainty that cast significant doubt about the Company’s ability to continue as a going concern.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Notes	'
Summary of Significant Accounting Policies	'
	4.        SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The accounting policies of the Company are in accordance with accounting principles generally accepted in the United States. Presented below are those policies considered particularly significant:
	Basis of Consolidation and Presentation
	The accompanying interim condensed consolidated financial statements include the accounts of the Company, and its wholly-owned subsidiary Panacea (a Delaware incorporated Company) and Panacea Global Inc. (a Canadian incorporated Company).  All inter-company transactions and balances have been eliminated upon consolidation.
	The interim condensed consolidated financial statements of the Company included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in conjunction with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These interim condensed consolidated financial statements should be read in conjunction with the Company’s 2012 year end annual consolidated audited financial statements and the notes thereto included in the Company’s annual report on Form 10-K.
	The accompanying interim condensed consolidated financial statements reflect all adjustments of a normal and recurring nature which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented. The results of operations for these periods are not necessarily comparable to, or indicative of, results of any other interim period or for the fiscal year taken as a whole. Certain information that is not required for interim financial reporting purposes has been omitted.
	Translation of Foreign Currency Financial Statements and Foreign Currency Transactions
	The functional currency of the Company is Canadian dollars. The functional currency of the Company’s subsidiaries is United States dollars.  The interim condensed financial statements of the Company have been translated into United States dollars by translating balance sheet accounts at year end and period end exchange rates except for non-current assets which are translated at historical exchange rates, and statement of operations accounts at average exchange rates for the periods. Foreign currency translation gains and losses are reflected in the equity section of the Company’s consolidated balance sheet in Accumulated Other Comprehensive Income (Loss). The balance of the foreign currency translation adjustment, included in Accumulated Other Comprehensive Loss, was ($42,732) for the three months ended September 30, 2013 and ($22,079) for the nine months ended September 30, 2013. For the period from inception (February 5, 2010) through September 30, 2013, $67,032 of foreign currency translation adjustment was included in Accumulated Other Comprehensive Income (Loss).
	Earnings or Loss Per Share
	The Company accounts for earnings per share pursuant to ASC 260-10-05, Earnings per Share, which requires disclosure on the financial statements of "basic" and "diluted" earnings (loss) per share. Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of common stock outstanding for the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common stock outstanding plus common stock equivalents (if dilutive) related to stock options and warrants for each period.
	Financial Instruments
	In accordance with ASC 825-10-50, Defining Fair Value Measurement, the estimated fair value of financial instruments has been determined by the Company using available market information and valuation methodologies. Considerable judgment is required in estimating fair value. Accordingly, the estimates may not be indicative of the amounts the Company could realize in a current market exchange. As of September 30, 2013, the carrying value of accounts payable and accrued liabilities, due to related parties and license fee payable approximate their fair value because of the short-term maturity of these instruments.  The fair value of the investment is not readily determinable.
	In accordance with ASC 820-10, Defining Fair Value Measurement, the Company adopted the standard which defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements.
	Income Taxes
	The Company accounts for income taxes pursuant to ASC 740-10, Accounting for Income Taxes. Deferred tax assets and liabilities are recorded for differences between the financial statements and tax basis of the assets and liabilities as well as loss carry forward that will result in taxable or deductible amounts in the future based on enacted tax laws and rates. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is recorded for the amount of income tax payable or refundable for the period increased or decreased by the change in deferred tax assets and liabilities during the period.
	Impairment of Long-lived Assets
	In accordance with ASC 360-10-05, Accounting for the Impairment or Disposal of Long-Lived Assets, long-lived assets to be held and used are analyzed for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The Company evaluates whether events and circumstances have occurred that indicate possible impairment. If there are indications of impairment, the Company uses future undiscounted cash flows of the related asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not expected to be sufficient to recover the recorded asset values, the assets are written down to their estimated fair value. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value of asset less cost to sell.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known. The accounting estimates that require management’s most significant judgments are the valuation of the intangible asset and measurement of accrued liabilities.
	Property and Equipment
	Property and equipment are initially recorded at cost.  Depreciation is provided using the declining balance method at rates intended to amortize the cost of assets over their estimated useful lives.
		Method	Rate
	Computer equipment	Declining balance	30%
	Furniture and equipment	Declining balance	20%
	Lab equipment	Declining balance	30%
	Leasehold improvements	Declining balance	20%
	In the year of acquisition, depreciation is taken as assets are available for use.
	Equity Compensation
	The Company adopted ASC 718, Share-Based Payment, which establishes standards for transactions in which an entity exchanges its equity instruments for goods and services. This standard focuses primarily on accounting for transactions in which an entity obtains employee services in share-based payment transactions, including issuance of stock options to employees. The Company measures stock-based compensation cost at grant date, based on the estimated fair value of the award, and recognizes the cost as expense on a straight-line basis (net of estimated forfeitures) over the employee requisite service period. The Company estimates the fair value of stock options using a Black-Scholes valuation model.
	Investment in Equity Instruments
	The Company has accounted for its investment in equity and debt securities using the equity method of accounting based on the guidelines established in FASB ASC 323. In applying the guidance of FASB ASC 323, the Company recognizes the investment in stock of an investee as an asset. The asset is recorded initially at cost in accordance with the guidance in FASB ASC 805-50-30. Subsequent to the initial recording the Company will recognize its share of the earnings or losses of an investee in the periods for which they are reported by the investee in its financial statements. The Company adjusts the carrying value of the investment for its share of the earnings or losses of the investee after the date of investment and shall report the recognized earnings or losses in the statement of operations.
	Recent Accounting Pronouncements
	Changes to accounting principles generally accepted in the United States of America (U.S. GAAP) are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASU’s) to the FASB’s Accounting Standards Codification.
	The Company has assessed the applicability and impact of all ASU’S and they have been determined to be either not applicable or are expected to have minimal impact on the Company’s interim condensed consolidated financial position and results of operations.

Global_Diagnostic_License

Global Diagnostic License	9 Months Ended
	Sep. 30, 2013
Notes	'
Global Diagnostic License	'
	5.       GLOBAL DIAGNOSTIC LICENSE
	License Agreement
	On March 24, 2010, the Company entered into a license agreement with Panacea Pharmaceuticals Inc. (“Pharmaceuticals”) to acquire the global diagnostic license (“GDL”), with rights to sublicense worldwide, except for the United States of America.  GDL allows the Company to develop, market and use licensed products related to HAAH based laboratory tests.
	In consideration for the GDL, the Company issued 35,500,000 common shares and will pay Pharmaceuticals a license fee of $2,500,000, due within 30 days of the Company raising a minimum $10,000,000 equity investment.  One-half of any equity investments raised shall be remitted to Pharmaceuticals, until the license fee is paid in full. The aggregate consideration paid and therefore fair value of the GDL equates $50,000,000.  Further, the Company will pay Pharmaceuticals 25% of all sublicensing revenue and will purchase all conforming reagent at a cost of $20 per test or 10% of the sale price of the individual test with a minimum $8.00 test price.
	As at December 31, 2011, the Company engaged a third party professional valuation firm to review the license agreement and determine an appropriate representation of fair value of the intangible asset. The valuation report considered current conditions of the Company and industry as well as projections of future performance based on management’s judgment of the likelihood of future outcomes. Results of the valuation report indicated that the intangible asset was not impaired as of December 31, 2011.  As at September 30, 2013, management is of the opinion that there has been no change to those circumstances.
	The Company made license fee payments of $173,280 for the 3 months ending September 30, 2013 ($0 – September 30, 2012), and $491,629 for the nine months ended September 30, 2013 ($200,000 – September 30, 2012) which has reduced the Company’s license fee payable to $1,070,871.
	Sublicense Agreement
	On November 18, 2011, the Company entered into a sublicense agreement with Panacea Laboratories, Inc. (“Laboratories”) to sublicense the rights to develop, market and use licensed products related to HAAH based laboratory tests in Canada.
	In consideration for the rights received under the sublicense agreement, Laboratories provided the Company with 40,000,000 shares of its common stock and will pay the Company a sublicense fee of $960,000, due within 3 years.  The fair value of the aggregate consideration paid and therefore the initial cost of the investment equated to $1,000,000, which was recognized as the initial asset balance of the investment.  Further, Laboratories must purchase all conforming reagents from the Company at a cost of $20 per test or 10% of the sale price of the individual test with a minimum $8.00 test price.
	Sublicensing revenues of $1,000,000 had been recorded in deferred revenues for the year ended December 31, 2011, and will be taken into revenues once Laboratories commences operations. The amount of deferred revenues is unchanged since December 31, 2011. Upon the recognition of revenue, the Company will recognize its liability to reimburse Panacea Pharmaceuticals 25% of all sublicensing revenue as disclosed under the terms of the license agreement.
	Based on the accounting guidance of FASB ASC 323, the Company’s investment in Laboratories was subsequently decreased due to the Company’s share of the losses in Laboratories’ operations. The Company’s investment of 40,000,000 common shares represents a 50% ownership interest in Laboratories. Laboratories intends to raise capital in the current year through issuing additional shares and the Company’s ownership interest in Laboratories is expected to decline.  The Company has significant influence over Laboratories but does not have the level of control that would require consolidation and has thus accounted for its investment in Laboratories using the equity method.
	Investment in Laboratories
	November 18, 2011 (initial value)	$	1,000,000
	Share of losses up to December 31, 2012		-87,424
	31-Dec-12		912,576
	Share of gain for the nine months ended September 30, 2013		5,533
	30-Sep-13	$	918,109
	The investment in Laboratories was $918,109 and $912,576 as of September 30, 2013 and December 31, 2012 respectively.  The increase in the investment during the nine months ended September 30, 2013 represents a reversal of previously recognized operating expenses incurred at laboratories.

Capital_Stock

Capital Stock	9 Months Ended
	Sep. 30, 2013
Notes	'
Capital Stock	'
	7.       CAPITAL STOCK
	a)       Authorized
	100,000 Class A Preferred shares with a par value of $0.001. There were no shares issued and outstanding at September 30, 2013.
	300,000,000 Common shares of $0.001 par value.
	b)       Issued
	99,497,586 Common Shares (95,363,586 common shares – December 31, 2012).
	Common Shares
	On April 5, 2012, the Company issued an additional 500,000 common shares for cash of $121,652.  On August 17, 2012, the Company issued an additional 100,000 common shares for cash of $49,985.  On September 17, 2012, the Company issued an additional 280,000 common shares for cash of $139,477.  On September 25, 2012, the Company issued an additional 320,000 common shares for cash of $160,000. On October 12, 2012, the Company issued an additional 100,000 common shares for cash of $50,000. On February 28, 2013, the Company issued an additional 400,000 common shares for cash of $200,000. On April 15, 2013, the Company issued an additional 120,000 common shares for cash of $60,000.  On April 24, 2013, the Company issued an additional 10,000 common shares for cash of $5,000.  On April 25, 2013, the Company issued an additional 1,360,000 common shares for cash of $660,000.  On July 3, 2013, the Company issued an additional 680,000 common shares for cash of $340,000. On July 26, 2013, the Company issued an additional 100,000 common shares for cash of $50,000. On July 29, 2013, the Company issued an additional 2,000 common shares for cash of $1,000. On August 15, 2013, the Company issued an additional 100,000 common shares for cash of $50,000.
	Warrants
	On February 25, 2013, the Company issued an additional 200,000 common shares for cash of $50,000. On February 28, 2013, the Company issued an additional 200,000 common shares for cash of $50,000. On March 22, 2013, the Company issued an additional 200,000 common shares for cash of $50,000. On March 27, 2013, the Company issued an additional 600,000 common shares for cash of $152,895. On May 22, 2013, the Company issued an additional 200,000 common shares for cash of $50,000.
			Number of Shares	Capital Stock	Additional
					paid in capital
	Capital stock as at December 31, 2010		89,363,586	$89,364	$47,449,936
	Stock issuances in 2011		4,700,000	4,700	1,295,300
	Stock based compensation in 2011		-	-	1,124,367
	Capital stock as at December 31, 2011		94,063,586	94,064	49,869,603
	Stock issuances in 2012		1,300,000	1,300	519,814
	Capital stock as at December 31, 2012		95,363,586	$95,364	$50,389,417
	Stock issuance in 2013		4,134,000	4,134	1,704,598
	Capital stock as at September 30, 2013		99,497,586	$99,498	$52,094,015
	The following table provides consolidated information on the Company’s warrants as at September 30, 2013.  Each warrant provides the warrant holder the option to purchase one share.
		Number of  Warrants	Exercise Price	Exercisable Date	Expiry Date
	Warrants issued on April 10, 2011	2,000,000	$0.25	Anytime	10-Apr-13
	Warrants issued on April 15, 2011	100,000	$0.25	Anytime	15-Apr-13
	Warrants issued on April 5, 2012	500,000	$0.25	Anytime	5-Apr-14
	Warrants exercised on February 25, 2013	-200,000	$0.25
	Warrants exercised on February 28, 2013	-200,000	$0.25
	Warrants exercised on March 22, 2013	-200,000	$0.25
	Warrants exercised on March 27, 2013	-600,000	$0.25
	Warrants exercised on May 22, 2013	-200,000	$0.25
	Warrants expired on April 10, 2013	-600,000	$0.25
	Warrants expired on April 15, 2013	-100,000	$0.25
	Warrants outstanding as at September 30, 2013	500,000	$0.25

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2013
Notes	'
Income Taxes	'
	8.       INCOME TAXES
	The Company accounts for income taxes in accordance with ASC 740-20. ASC 740-20 prescribes the use of the liability method whereby deferred tax asset and liability account balances are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates. The effects of future changes in tax laws or rates are not anticipated.
	Under ASC 740-20 income taxes are recognized for the following: a) amount of tax payable for the current year, and b) deferred tax liabilities and assets for future tax consequences of events that have been recognized differently in the financial statements than for tax purposes.
	The Company has a Delaware subsidiary which pays an asset-based tax.  Tax expense in the current year relate to asset based taxes on the Company’s Delaware subsidiary. Other than the Delaware subsidiary, the Company pays taxes based on income. The Company has income tax losses available to be applied against future year’s income as a result of the losses incurred since inception. However, due to the losses incurred since inception and expected future operating results, management determined that it is more likely than not that the deferred tax asset resulting from the tax losses available for carry forward will not be realized through the reduction of future income tax payments. Accordingly a 100% valuation allowance has been recorded for income tax losses available for carry forward.
	As of September 30, 2013, the Company did not have any amounts recorded pertaining to uncertain tax positions.  The Company files federal and provincial income tax returns in Canada and federal, state and local income tax returns in the U.S., as applicable.  The Company may be subject to a reassessment of federal and provincial income taxes by Canadian tax authorities for a period of three to five years from the date of the original notice of assessment in respect of any particular taxation year.  In certain circumstances, the U.S. federal statute of limitations can reach beyond the standard three year period.  U.S. state statutes of limitations for income tax assessment vary from state to state.

Property_and_Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2013
Notes	'
Property and Equipment	'
	9.       PROPERTY AND EQUIPMENT
		As at September 30, 2013
		Cost	Accumulated Depreciation	Net Book Value
	Leasehold improvements	$   85,379	$   25,546	$  59,833
	Furniture & Equipment	20,594	4,858	15,736
	Lab Equipment	14,619	1,686	12,933
	Computer equipment	1,946	1,028	918
		$122,538	$33,118	$  89,420
		As at December 31, 2012
		Cost	Accumulated Depreciation	Net Book Value
	Leasehold improvements	$   85,379	$   15,665	$  69,714
	Furniture & Equipment	20,594	2,080	18,513
	Computer equipment	1,936	789	1,157
		$  107,918	$18,534	$  89,384

Equity_Compensation

Equity Compensation	9 Months Ended
	Sep. 30, 2013
Notes	'
Equity Compensation	'
	10.    EQUITY COMPENSATION
	The following table provides consolidated summary information on the Company’s equity compensation plans as at September 30, 2013.
			Weighted Average
		Number of  Options	Exercise Price	Fair Value Per Option	Expiry Date
	Options outstanding at September 30, 2013 and December 31, 2012	4,500,000	0.55	0.25	26-Jul-21
	As of September 30, 2013, there was no unrecognized compensation related to non-vested options.
	No options were issued during the nine months ended September 30, 2013.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2013
Notes	'
Related Party Transactions	'
	11.    RELATED PARTY TRANSACTIONS
	During the nine month period, the Company paid back amounts due to related parties, which had been advanced in the past to fund its operating and investing activities.  Amounts due to related parties are due on demand, are non-interest bearing and approximate fair value due to their short term to maturity.  Amounts due to Dr. Moshiri, CEO, relate to advances for business related travel and are short-term in nature. Amounts due to related parties as at September 30, 2013 and December 31, 2012 are as follows:
		September 30, 2013	December 31, 2012
	Due to Dr. Moshiri, CEO of the Company	$                0	$         92,235
	Due to a company controlled by a shareholder of the Company	741,167	850,784
	Total	$    741,167	$    943,019

Lease_Commitments

Lease Commitments	9 Months Ended
	Sep. 30, 2013
Notes	'
Lease Commitments	'
	12.    LEASE COMMITMENTS
	In 2011, the Company entered into a lease for premises in Toronto, Ontario.  The lease term is for 60 months. Rent expense under all operating leases (exclusive of real estate taxes and other expenses payable under the leases) was approximately $24,195 and $22,941 for the nine months ended September 30, 2013 and 2012 respectively.
	In addition, the Company is required to pay its pro rata share of common area maintenance costs and property taxes.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies: Basis of Consolidation and Presentation (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Basis of Consolidation and Presentation	'
	Basis of Consolidation and Presentation
	The accompanying interim condensed consolidated financial statements include the accounts of the Company, and its wholly-owned subsidiary Panacea (a Delaware incorporated Company) and Panacea Global Inc. (a Canadian incorporated Company).  All inter-company transactions and balances have been eliminated upon consolidation.
	The interim condensed consolidated financial statements of the Company included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in conjunction with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These interim condensed consolidated financial statements should be read in conjunction with the Company’s 2012 year end annual consolidated audited financial statements and the notes thereto included in the Company’s annual report on Form 10-K.
	The accompanying interim condensed consolidated financial statements reflect all adjustments of a normal and recurring nature which are, in the opinion of management, necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented. The results of operations for these periods are not necessarily comparable to, or indicative of, results of any other interim period or for the fiscal year taken as a whole. Certain information that is not required for interim financial reporting purposes has been omitted.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies: Translation of Foreign Currency Financial Statements and Foreign Currency Transactions (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Translation of Foreign Currency Financial Statements and Foreign Currency Transactions	'
	Translation of Foreign Currency Financial Statements and Foreign Currency Transactions
	The functional currency of the Company is Canadian dollars. The functional currency of the Company’s subsidiaries is United States dollars.  The interim condensed financial statements of the Company have been translated into United States dollars by translating balance sheet accounts at year end and period end exchange rates except for non-current assets which are translated at historical exchange rates, and statement of operations accounts at average exchange rates for the periods. Foreign currency translation gains and losses are reflected in the equity section of the Company’s consolidated balance sheet in Accumulated Other Comprehensive Income (Loss). The balance of the foreign currency translation adjustment, included in Accumulated Other Comprehensive Loss, was ($42,732) for the three months ended September 30, 2013 and ($22,079) for the nine months ended September 30, 2013. For the period from inception (February 5, 2010) through September 30, 2013, $67,032 of foreign currency translation adjustment was included in Accumulated Other Comprehensive Income (Loss).

Summary_of_Significant_Account3

Summary of Significant Accounting Policies: Earnings Or Loss Per Share (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Earnings Or Loss Per Share	'
	Earnings or Loss Per Share
	The Company accounts for earnings per share pursuant to ASC 260-10-05, Earnings per Share, which requires disclosure on the financial statements of "basic" and "diluted" earnings (loss) per share. Basic earnings (loss) per share are computed by dividing net income (loss) by the weighted average number of common stock outstanding for the period. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common stock outstanding plus common stock equivalents (if dilutive) related to stock options and warrants for each period.

Summary_of_Significant_Account4

Summary of Significant Accounting Policies: Financial Instruments (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Financial Instruments	'
	Financial Instruments
	In accordance with ASC 825-10-50, Defining Fair Value Measurement, the estimated fair value of financial instruments has been determined by the Company using available market information and valuation methodologies. Considerable judgment is required in estimating fair value. Accordingly, the estimates may not be indicative of the amounts the Company could realize in a current market exchange. As of September 30, 2013, the carrying value of accounts payable and accrued liabilities, due to related parties and license fee payable approximate their fair value because of the short-term maturity of these instruments.  The fair value of the investment is not readily determinable.
	In accordance with ASC 820-10, Defining Fair Value Measurement, the Company adopted the standard which defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements.

Summary_of_Significant_Account5

Summary of Significant Accounting Policies: Income Taxes (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Income Taxes	'
	Income Taxes
	The Company accounts for income taxes pursuant to ASC 740-10, Accounting for Income Taxes. Deferred tax assets and liabilities are recorded for differences between the financial statements and tax basis of the assets and liabilities as well as loss carry forward that will result in taxable or deductible amounts in the future based on enacted tax laws and rates. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is recorded for the amount of income tax payable or refundable for the period increased or decreased by the change in deferred tax assets and liabilities during the period.

Summary_of_Significant_Account6

Summary of Significant Accounting Policies: Impairment of Long-lived Assets (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Impairment of Long-lived Assets	'
	Impairment of Long-lived Assets
	In accordance with ASC 360-10-05, Accounting for the Impairment or Disposal of Long-Lived Assets, long-lived assets to be held and used are analyzed for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. The Company evaluates whether events and circumstances have occurred that indicate possible impairment. If there are indications of impairment, the Company uses future undiscounted cash flows of the related asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not expected to be sufficient to recover the recorded asset values, the assets are written down to their estimated fair value. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value of asset less cost to sell.

Summary_of_Significant_Account7

Summary of Significant Accounting Policies: Use of Estimates (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. These estimates are reviewed periodically, and, as adjustments become necessary, they are reported in earnings in the period in which they become known. The accounting estimates that require management’s most significant judgments are the valuation of the intangible asset and measurement of accrued liabilities.

Summary_of_Significant_Account8

Summary of Significant Accounting Policies: Property and Equipment (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Property and Equipment	'
	Property and Equipment
	Property and equipment are initially recorded at cost.  Depreciation is provided using the declining balance method at rates intended to amortize the cost of assets over their estimated useful lives.
		Method	Rate
	Computer equipment	Declining balance	30%
	Furniture and equipment	Declining balance	20%
	Lab equipment	Declining balance	30%
	Leasehold improvements	Declining balance	20%
	In the year of acquisition, depreciation is taken as assets are available for use.

Summary_of_Significant_Account9

Summary of Significant Accounting Policies: Equity Compensation (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Equity Compensation	'
	Equity Compensation
	The Company adopted ASC 718, Share-Based Payment, which establishes standards for transactions in which an entity exchanges its equity instruments for goods and services. This standard focuses primarily on accounting for transactions in which an entity obtains employee services in share-based payment transactions, including issuance of stock options to employees. The Company measures stock-based compensation cost at grant date, based on the estimated fair value of the award, and recognizes the cost as expense on a straight-line basis (net of estimated forfeitures) over the employee requisite service period. The Company estimates the fair value of stock options using a Black-Scholes valuation model.

Recovered_Sheet1

Summary of Significant Accounting Policies: Investment in Equity Instruments (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Investment in Equity Instruments	'
	Investment in Equity Instruments
	The Company has accounted for its investment in equity and debt securities using the equity method of accounting based on the guidelines established in FASB ASC 323. In applying the guidance of FASB ASC 323, the Company recognizes the investment in stock of an investee as an asset. The asset is recorded initially at cost in accordance with the guidance in FASB ASC 805-50-30. Subsequent to the initial recording the Company will recognize its share of the earnings or losses of an investee in the periods for which they are reported by the investee in its financial statements. The Company adjusts the carrying value of the investment for its share of the earnings or losses of the investee after the date of investment and shall report the recognized earnings or losses in the statement of operations.

Recovered_Sheet2

Summary of Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2013
Policies	'
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	Changes to accounting principles generally accepted in the United States of America (U.S. GAAP) are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASU’s) to the FASB’s Accounting Standards Codification.
	The Company has assessed the applicability and impact of all ASU’S and they have been determined to be either not applicable or are expected to have minimal impact on the Company’s interim condensed consolidated financial position and results of operations.

Global_Diagnostic_License_Inve

Global Diagnostic License: Investment in Laboratories table (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Investment in Laboratories table	'
	Investment in Laboratories
	November 18, 2011 (initial value)	$	1,000,000
	Share of losses up to December 31, 2012		-87,424
	31-Dec-12		912,576
	Share of gain for the nine months ended September 30, 2013		5,533
	30-Sep-13	$	918,109

Schedule_of_Intangible_Assets_

Schedule of Intangible Assets and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Intangible Assets and Goodwill	'
		As at February 5, 2010 (inception)	Acquired	Accumulated Amortization	As at December 31, 2012	Accumulated Amortization	As at
							30-Sep-13
	Global Diagnostic License	-	$50,000,000	-	$50,000,000	-	$50,000,000

Capital_Stock_Schedule_of_Stoc

Capital Stock: Schedule of Stockholders Equity (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Stockholders Equity	'
		Number of Shares	Capital Stock	Additional
				paid in capital
	Capital stock as at December 31, 2010	89,363,586	$89,364	$47,449,936
	Stock issuances in 2011	4,700,000	4,700	1,295,300
	Stock based compensation in 2011	-	-	1,124,367
	Capital stock as at December 31, 2011	94,063,586	94,064	49,869,603
	Stock issuances in 2012	1,300,000	1,300	519,814
	Capital stock as at December 31, 2012	95,363,586	$95,364	$50,389,417
	Stock issuance in 2013	4,134,000	4,134	1,704,598
	Capital stock as at September 30, 2013	99,497,586	$99,498	$52,094,015

Capital_Stock_Schedule_of_Stoc1

Capital Stock: Schedule of Stockholders' Equity Note, Warrants or Rights (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Stockholders' Equity Note, Warrants or Rights	'
		Number of  Warrants	Exercise Price	Exercisable Date	Expiry Date
	Warrants issued on April 10, 2011	2,000,000	$0.25	Anytime	10-Apr-13
	Warrants issued on April 15, 2011	100,000	$0.25	Anytime	15-Apr-13
	Warrants issued on April 5, 2012	500,000	$0.25	Anytime	5-Apr-14
	Warrants exercised on February 25, 2013	-200,000	$0.25
	Warrants exercised on February 28, 2013	-200,000	$0.25
	Warrants exercised on March 22, 2013	-200,000	$0.25
	Warrants exercised on March 27, 2013	-600,000	$0.25
	Warrants exercised on May 22, 2013	-200,000	$0.25
	Warrants expired on April 10, 2013	-600,000	$0.25
	Warrants expired on April 15, 2013	-100,000	$0.25
	Warrants outstanding as at September 30, 2013	500,000	$0.25

Property_and_Equipment_Propert

Property and Equipment: Property Plant and Equipment, September 30, 2013 (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Property Plant and Equipment, September 30, 2013	'
		As at September 30, 2013
		Cost	Accumulated Depreciation	Net Book Value
	Leasehold improvements	$   85,379	$   25,546	$  59,833
	Furniture & Equipment	20,594	4,858	15,736
	Lab Equipment	14,619	1,686	12,933
	Computer equipment	1,946	1,028	918
		$122,538	$33,118	$  89,420

Property_and_Equipment_Propert1

Property and Equipment: Property Plant and Equipment, December 31, 2012 (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Property Plant and Equipment, December 31, 2012	'
		As at December 31, 2012
		Cost	Accumulated Depreciation	Net Book Value
	Leasehold improvements	$   85,379	$   15,665	$  69,714
	Furniture & Equipment	20,594	2,080	18,513
	Computer equipment	1,936	789	1,157
		$  107,918	$18,534	$  89,384

Equity_Compensation_Schedule_o

Equity Compensation: Schedule of Equity Compensation (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Equity Compensation	'
			Weighted Average
		Number of  Options	Exercise Price	Fair Value Per Option	Expiry Date
	Options outstanding at September 30, 2013 and December 31, 2012	4,500,000	0.55	0.25	26-Jul-21

Related_Party_Transactions_Sch

Related Party Transactions: Schedule of Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2013
Tables/Schedules	'
Schedule of Related Party Transactions	'
		September 30, 2013	December 31, 2012
	Due to Dr. Moshiri, CEO of the Company	$                0	$         92,235
	Due to a company controlled by a shareholder of the Company	741,167	850,784
	Total	$    741,167	$    943,019

Global_Diagnostic_License_Deta

Global Diagnostic License (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2011	Dec. 31, 2012
Details	'	'	'	'	'	'
License Costs	$173,280	$0	$491,629	$200,000	'	'
Licenses Revenue	'	'	'	'	1,000,000	'
Investments	$918,109	'	$918,109	'	'	$912,576

Global_Diagnostic_License_Inve1

Global Diagnostic License: Investment in Laboratories table (Details) (USD $)	9 Months Ended	13 Months Ended
	Sep. 30, 2013	Dec. 31, 2012	Nov. 18, 2011
Details	'	'	'
Investment Initial Value	'	'	$1,000,000
Operating Loss	'	-87,424	'
Total Operating Loss	918,109	912,576	'
Operating Gain	$5,533	'	'

Schedule_of_Intangible_Assets_1

Schedule of Intangible Assets and Goodwill (Details) (Global Diagnostic License, USD $)	Sep. 30, 2013	Dec. 31, 2012	Feb. 06, 2010
Global Diagnostic License	'	'	'
Other Intangible Assets, Net	$50,000,000	$50,000,000	'
License Acquired	'	'	$50,000,000

Capital_Stock_Details

Capital Stock (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Details	'	'	'	'
Preferred Stock, Shares Authorized	100,000	'	'	'
Preferred Stock, Par or Stated Value Per Share	$0.00	'	'	'
Common Stock, Shares Authorized	300,000,000	'	'	'
Common Stock, Par or Stated Value Per Share	$0.00	'	'	'
Common Stock, Shares, Issued	99,497,586	95,363,586	94,063,586	89,363,586

Capital_Stock_Schedule_of_Stoc2

Capital Stock: Schedule of Stockholders Equity (Details) (USD $)	Sep. 30, 2013		Dec. 31, 2012		Dec. 31, 2011	Dec. 31, 2010
Details	'		'		'	'
Common Stock, Shares, Issued	99,497,586		95,363,586		94,063,586	89,363,586
Capital Stock	$99,498	[1]	$95,364	[1]	$94,064	$89,364
Additional Paid in Capital, Common Stock	52,094,015		50,389,417		49,869,603	'
Stock Issuances, Amount of Shares	4,134,000		1,300,000		4,700,000	'
Stock Issuances, Amount	4,134		1,300		4,700	'
Additional Paid In Capital Stock Issuances	1,704,598		519,814		1,295,300	'
Stock Based Compensation Additional Paid In Capital	'		'		$1,124,367	'
[1]	$0.001 par value; 300,000,000 shares authorized; 99,497,586 issued and outstanding (December 31, 2012- 95,363,586); See Note 7

Capital_Stock_Schedule_of_Stoc3

Capital Stock: Schedule of Stockholders' Equity Note, Warrants or Rights (Details) (USD $)	Sep. 30, 2013	22-May-13	Apr. 15, 2013	Apr. 10, 2013	Mar. 27, 2013	Mar. 22, 2013	Feb. 28, 2013	Feb. 25, 2013	Apr. 05, 2012	Apr. 15, 2011	Apr. 10, 2011
Details	'	'	'	'	'	'	'	'	'	'	'
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	'	-200,000	-100,000	-600,000	-600,000	-200,000	-200,000	-200,000	500,000	100,000	2,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25	$0.25
Warrants Outstanding	500,000	'	'	'	'	'	'	'	'	'	'

Property_and_Equipment_Propert2

Property and Equipment: Property Plant and Equipment, September 30, 2013 (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Leasehold Improvements	'	'
Cost	$85,379	$85,379
Property, Plant and Equipment, Other, Accumulated Depreciation	25,546	15,665
Net Book Value	59,833	69,714
Furniture and Equipment	'	'
Cost	20,594	20,594
Property, Plant and Equipment, Other, Accumulated Depreciation	4,858	2,080
Net Book Value	15,736	18,513
Lab Equipment	'	'
Cost	14,619	'
Property, Plant and Equipment, Other, Accumulated Depreciation	1,686	'
Net Book Value	12,933	'
Computer Equipment	'	'
Cost	1,946	1,936
Property, Plant and Equipment, Other, Accumulated Depreciation	1,028	789
Net Book Value	918	1,157
Total	'	'
Cost	122,538	107,918
Property, Plant and Equipment, Other, Accumulated Depreciation	33,118	18,534
Net Book Value	$89,420	$89,384

Property_and_Equipment_Propert3

Property and Equipment: Property Plant and Equipment, December 31, 2012 (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Leasehold Improvements	'	'
Cost	$85,379	$85,379
Property, Plant and Equipment, Other, Accumulated Depreciation	25,546	15,665
Net Book Value	59,833	69,714
Furniture and Equipment	'	'
Cost	20,594	20,594
Property, Plant and Equipment, Other, Accumulated Depreciation	4,858	2,080
Net Book Value	15,736	18,513
Computer Equipment	'	'
Cost	1,946	1,936
Property, Plant and Equipment, Other, Accumulated Depreciation	1,028	789
Net Book Value	918	1,157
Total	'	'
Cost	122,538	107,918
Property, Plant and Equipment, Other, Accumulated Depreciation	33,118	18,534
Net Book Value	$89,420	$89,384

Related_Party_Transactions_Sch1

Related Party Transactions: Schedule of Related Party Transactions (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Related Party Transaction, Due from (to) Related Party	$0	$92,235
Company Controlled By Shareholder Of Company	'	'
Related Party Transaction, Due from (to) Related Party	741,167	850,784
Total	'	'
Related Party Transaction, Due from (to) Related Party	$741,167	$943,019

Lease_Commitments_Details

Lease Commitments (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Details	'	'
Operating Leases, Rent Expense	$24,195	$22,941